CRH plc

CRH plc is an international group of diversified building materials businesses which manufacture and supply a wide range of products for the construction industry. The company was established and incorporated and is currently domiciled and managed in Ireland where it ranks as the largest Irish company.[3] CRH has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Irish Stock Exchange (where it is a constituent of the ISEQ 20) and New York Stock Exchange.

CRH plc
Public limited company
Traded asISEQ: CRG
LSE: CRH
NYSE: CRH
FTSE 100 Component
ISINIE0001827041 
IndustryBuilding materials
FoundedCement Limited (1936), Roadstone Limited (1949) & merger to form Cement Roadstone Holdings (1970)
HeadquartersDublin, Ireland
Key people
ProductsCement, aggregates, readymixed concrete, asphalt/bitumen and agricultural and/or chemical lime
Revenue€25,129 million (2019)[1]
€2,595 million (2019)[1]
€1,948 million (2019)[1]
Number of employees
85,000 (2019)[2]
Websitewww.crh.ie

History

1970-1980s: Formation and listings

The company, whose name began as an abbreviation of Cement Roadstone Holdings, was formed through the merger in 1970 of Cement Ltd (established in 1936) and Roadstone Ltd (established in 1949).[4] According to Jonathan Guthrie of the Financial Times, it is pronounced “Cee Orr Haitch.”[5] The company went public on the Irish Stock Exchange in 1973.[6]

CRH entered the United States in 1978 by buying Amcor, a concrete products group in Utah which would then form the basis of the company's U.S. division, which is now called Oldcastle Inc. Subsequent large purchases in the US included Callanan Industries, a New York State based aggregates and asphalt producer in 1985.[7] In 1987, CRH was listed as a constituent of the FTSE 100 Index.[8]

1990s: Early Europe and US acquisitions

In the 1990s the company moved into France with a number of buys including Raboni SA, a builders merchant company and drainage systems and concrete vault manufacturing group Prefaest SA.[9]

In 1995, CRH made its first entry into new or emerging markets when it bought Holding Cement Polski, which later gained majority control of Cementownia Ozarow, one of the Poland's major cement producers.[10] That acquisition marked the first CRH cement manufacturing operation outside Ireland. By the end of the decade, CRH numbered more than a dozen operations in Poland and it has since invested in cement production in neighbouring Ukraine,[11] most recently with the announcement of an agreement to buy Mykolaiv Cement from rival Lafarge.[12] In 1999 CRH bought Finnsementti Oy, Finland's only cement producer, and Lohja Rudus Oy, Finland's top producer of aggregates and ready-mix concrete.[13]

In the 1990s, US acquisitions by CRH included Betco Block & Products Inc. of Bethesda, Maryland in 1990.[14] CRH acquired Balf Co. in Connecticut, Lebanon Rock in Pennsylvania, Keating in Massachusetts and Sullivan Lafarge in New York state in 1994.[15] It acquired Allied Building Products, which specialized in roofing and cladding products and Tilcon, a major road construction specialist in the Northeast United States in 1996.[16]

2000-2010: Later acquisitions
CRH global production sites in 2010.

The company entered Switzerland in 2000 with the EUR 425 million purchase of Jura Group, adding cement, concrete and aggregates operations, as well as a regional distribution network.[17] In the following year, CRH took an interest in Nesher Israel Cement Works, the only cement producer in that country, by taking a 25% stake in its holding company Mashav.[18] In July 2003 it agreed to pay EUR 693 million to acquire Cementbouw - a do-it-yourself store chain and building materials producer in the Netherlands.[19] In 2004 CRH paid €429m to purchase a 49 percent stake in Portuguese cement producer Secil. It sold that stake again in 2012 for €574m following a ruling on a shareholder dispute by an arbitration tribunal at the Paris-based International Chamber of Commerce.[20]

In the United States, CRH acquired Ohio's Shelly Group in 2000,[21] and CRH acquired Mount Hope Rock Products, based in New Jersey in 2002[22] and Ashland Paving And Construction (APAC) of Atlanta in 2006. APAC was the company's largest deal.[23] In 2007 CRH purchased four companies worth a total of $350 million (€251 million) to add to its US materials division: these companies are Conrad Yelvington Distributors Inc. (CYDI), Eugene Sand & Gravel, Cessford Construction and McMinn's Asphalt and Prospect Agrregates.[24] Also in 2008, CRH agreed to purchase a landscape paver, Pavestone, for $540 million.[25]

In 2006 CRH invested in a cement factory based in the Heilongjiang region in China.[26] It has built on that presence acquiring a 26% stake in the Jilin Yatai Group and an option to acquire 49% in the future.[27] In 2008 CRH agreed to buy a 50 percent stake in Indian cement company My Home Industries Ltd. for €290 million ($452 million).[28]

2011-2019: Americas and emerging markets
Cement transport wagon of the French subsidiary (EQIOM)

CRH confirmed in 2013 that it was interested in looking at other opportunities in India.[29] In 2015, CRH remained listed in both London and Dublin.[30] In February 2015, CRH agreed to purchase the UK building materials producer Lafarge Tarmac.[31] In 2015, CRH purchased US $6.5 billion of assets from the newly formed company LafargeHolcim. The acquisition almost tripled CRH's net debt, bringing it to €6.6 billion.[32] The LafargeHolcim acquisition made CRH "the world’s third-largest building materials group by market value." A week after CEO Albert Manifold announced that CRH was looking for large-scale acquisitions, in August 2015, CRH paid $1.3 billion for CR Laurence, a glazing company based in California.[30] At the time, CRH already had a similar business in North America called BuildingEnvelope, with 4,500 employees, which it said it would integrate with CRH.[30] By November 2015, CRH was getting about a fifth of its operating earnings from US infrastructure.[33]

In June 2016, the Financial Times reported that CRH earned twice as much profit from the Americas versus Europe.[34] As of November 2016, half the asphalt, aggregates and assorted material it sold went to the United States.[32] Headquartered in Dublin, CRH was the biggest producer of asphalt in the US and the third largest producer of ready-mixed concrete.[35] Sales for 2016 were €27.1 billion, an increase of 15 percent from the year before. Profit after tax was €1.3 billion.[8] In April 2017, the Irish Times noted that chief executive Albert Manifold’s package almost doubled in 2016 to €10 million, despite disagreement among shareholders the year before on pay.[36] As of April 27, 2017, CRH was Ireland's biggest company.[8][37] Chief executive was Albert Manifold. That quarter, sales were up in its three divisions in Europe, while the Americas materials unit had higher sales as well.[37] At the time, it did 65 percent of its business in the Americas, while the market in the Philippines proving to be "challenging," and weighing down performance in Asia.[38] On April 27, 2017, CRH held their annual general meeting in Dublin, at which point 17 percent of shareholders voted against the company's executive pay structure. The year prior, 40 percent had voted against. At the meeting, chairman Nick Hartery noted that share price in the company had increased 80 percent since 2014.[8] Also in April 2017, it was reported that CRH was expecting to make a large-scale acquisition in 2018. At the time, over the earlier part of the year CRH had spent €500 million on eight acquisitions.[39] In early May 2017, BlackRock increased its stake in CRH plc.[40] Also in 2017, CRH sold Allied Building Products to Beacon Roofing Supply for $2.6 billion.[41]

In 2018, CRH purchased Ash Grove Cement.[41]

In July 2019, CRH announced that it was selling its European distribution arm to Blackstone, a US investment firm, for €1.64 billion.[41]

Products

The company's products are as follows:

Products manufactured and/or sold by CRH companies
Heavyside materials Lightside products Distribution
  • Glass and glazing systems
  • Construction accessories
  • Shutters and Awnings
  • Perimeter protection products
  • Network access products
  • General builders merchants
  • Sanitary, heating and plumbing outlets
  • Do-It-Yourself (DIY) stores

Governance and operating structure

Headquarters and board

CRH is registered in Ireland and headquartered in Dublin, Ireland. It has a board of 11 members[42]

Two Directors are executives of the Group.

  • Albert Manifold, Chief Executive (Ireland)
  • Senan Murphy, Group Finance Director (Ireland)

Each of the nine remaining sits as a Non-Executive Director.

  • Nicky Hartery, Chairman (Ireland)
  • Patrick Kennedy (Ireland)
  • Heather Ann McSharry (Ireland)
  • Gillian Platt (Canada)
  • Lucinda Riches (UK)
  • Henk Rottinghuis (Netherlands)
  • Willian Teuber (US)
  • Donald A. McGovern, Jr., Senior Independent Director[43] (US)

Mark Towe (Chairman, CRH Americas) retired from the plc board on 31 December 2016.[44]

Structure and divisions

CRH is structured into four activities:[45]

  • Heavyside materials (including cement, aggregates, concrete)
  • Heavyside products (such as precast concrete products)
  • Lightside products (construction accessories, glass and glazing systems, fencing, among others)
  • Distribution (builders merchant chains such as Bauking in Germany)

The holding company for CRH's American operations is Oldcastle, Inc.

CRH's operating companies include:

  • Oldcastle APG
  • C.R. Laurence Co., Inc.
  • De Ruwbouw Groep (DRBG)
    • Calduran
    • Dycore
    • Heembeton
  • Oldcastle BuildingEnvelope
  • Oldcastle Infrastructure
  • Tarmac
  • Irish Cement
  • Roadstone
  • Rudus
  • HALFEN
  • Ancon
  • Cementbouw
  • Bauking
  • BMN Bouwmaterialen
  • Raboni
  • Eqiom
  • Tilcon
  • The Shelly Company
  • Polbruk
  • Sigco

Financial performance

The following is a summary of financial data:[46]

€m2019201820172016201520142013201220112010200920082007200620052004
Revenue25,12926,79027,56327,10423,63518,91218,03118,65918,08117,17317,37320,88720,99218,73714,44912,755
EBITDA4,0003,3653,3103,1302,2191,6411,4751,6401,6561,6151,8032,6652,8602,4561,9571,740
Depreciation1,4421,0711,0061,032887680725748742786794781739664556516
Amortisation641176671554465047431315443352594
EBIT2,4942,1772,2382,0271,2779171008458716989551,8412,0861,7671,3921,220
Profit on Disposals(1)(24)595510177262305555266957402011
Profit before Finance costs2,4932,1532,2972,0821,3789941261,0759267539811,9102,1431,8071,4121,231
Finance costs (net)(438)(351)(349)(383)(389)(288)(297)(289)(257)(247)(297)(343)(303)(252)(159)(146)
Associates606065424455(44)(112)4228486164472619
Profit Before Tax2,1151,8622,0131,7411,033761(215)6747115347321,6281,9041,6021,2791,104
Income Tax(477)(426)(94)(471)(304)(177)(80)(120)(114)(95)(134)(366)(466)(378)(273)(232)
Profit after tax1,6381,4361,9191,270729584(295)5545974395981,2621,4381,2241,006872

Past controversy

Cartel accusations

Poland

In Poland in 2007, CRH was fined €530,000 by the Polish Competition and Consumer Protection Commission for interfering with evidence that Polish authorities were gathering for a price-fixing investigation.[47] In 2009, Grupa Ożarów (in which CRH first invested in 1995) was fined €26 million for operating a price fixing cartel in Poland.[48] The Polish Competition Regulator stated that seven companies, which accounted for almost 100 per cent of the market, had fixed minimum prices for grey cement and agreed on a market share for each operator. CRH has stated its belief that Ozarów operated an independent commercial policy in Poland and the fine was appealed.[49]

Ireland

In Ireland in 1994, Irish Cement Limited, a wholly owned subsidiary of CRH, was determined by the European Commission to be part of price fixing and market sharing cartel across Europe which it said had illegally and artificially inflated the price of cement throughout the continent. A fine of over €3.5 million was levied.[50] In Ireland in 1996, High Court proceedings were initiated against CRH, its subsidiaries and two competitors in which the plaintiffs accused CRH and the others of operating a cartel and employing an illegal and anti-competitive eviction strategy in order to put them out of business.[51] In 2012, CRH applied successfully to have the claim dismissed on the basis of the "inordinate and inexcusable delay" in bringing forward any evidence in the case.[52] That judgement was appealed to the Supreme Court in 2012. At the time of the appeal it emerged that the presiding judge in the proceedings had ownership of some shares in CRH and was forced to stand down.[53] As of 2012, the Irish cement and concrete industry at large was under investigation by the Irish Competition Authority.[54]

United States

In 2006, an antitrust lawsuit was filed in California against CRH subsidiary Oldcastle Precast and three AT&T affiliates. The defendants were alleged to have unreasonably restrained trade and conspired to monopolize telephone vaults for land-line connections. Plaintiffs challenged a contract requiring developers to purchase Oldcastle Precast product for properties served by AT&T infrastructure. They contended the arrangement led to Oldcastle Precast capturing northern California sales of precast electrical vaults, which were often placed concurrently with telephone structures. In 2010, an American Court of Appeal ruled that the plaintiff’s counsel had failed to provide enough evidence to show that the defendants harmed competition in California and Nevada telephone vault markets.[55]

In October 2009, a cement and concrete price fixing class action lawsuit was filed in Florida against Oldcastle Materials and others. The claim alleged that the defendants eliminated competition in the market for cement and concrete by charging artificially high prices from at least the period 2000 to 2009. The claim further alleged that the conspiracy was facilitated through in-personal meetings, telephone conversations and other communications. In 2008 the defendants announced uniform price increases for concrete and cement, bringing their prices to the same level at the same time, the lawsuit claimed. Then in September a number of defendant companies cut the price of concrete in an effort to lure customers away from independently owned concrete firms. The lawsuit stated that the practices alleged in the cement and concrete industry were clearly illegal.[56] In 2012, the case was settled for undisclosed terms.[57]

April 2014, "ridiculously dangerous" was the description applied to an Oldcastle Materials construction zone in Cleveland, Ohio in a wrongful death lawsuit regarding the death of Randy Roginski on July 27, 2010. The family of the deceased was awarded $19 million in compensation and the CRH-related Shelly Company was levied $20 million in punitive damages.[58]

Other allegations

Poland

In 2005, a Polish businessman, Marek Dochnal, alleged to a Polish Parliamentary Inquiry that he had arranged a bribe of almost $1 million for CRH to a former minister for privatisation, Wieslaw Kaczmarek, in connection with the privatisation of a cement plant at Ozarow, in central Poland, in 1995.[59] CRH, which now owns and operates the cement plant at Ozarow, said the allegations were "without foundation".[60]

It was also revealed in 2005, that CRH contributed €125,000 to a charity founded by the wife of Poland’s President, Jolanta Kwasniewska. Both CRH and the Polish first lady denied any sinister motive behind the transaction.[61]

Ireland

In 2003, CRH was accused of making payments to Ireland’s former Taoiseach (Prime Minister) Charles J. Haughey as details emerged of how Haughey received payments from various companies and businessmen in return for political favours. In 1969, Roadstone Ltd (CRH) sold 80 acres of land to Haughey, the then Minister of Finance, for £120,000. In 1973, Haughey sold 17.5 acres of that land back to CRH for £140,000. Within four years, Haughey had made a net profit of £20,000 and 62.5 acres at CRH’s expense.[62] Charles J. Haughey was offered chairmanship of CRH in 1972.[63]

Ansbacher Bank

The existence of illegal offshore accounts first emerged in 1997 during the McCracken Tribunal set up to investigate reports of secret payments to former Taoiseach (Irish Prime Minister) Charles Haughey and former cabinet minister Michael Lowry.[64]

The bank was founded in the 1970s and was being run by Des Traynor who was chairman of CRH from 1989 to 1994 and who ran his bank during that period out of CRH’s registered office in Dublin's Fitzwilliam Square where the company provided an office for its chairman. Traynor was also personal financier to Charles Haughey.[65]

During the investigation it materialised that Justice Moriarty held approximately £500,000 in CRH shares and while that in his opinion precluded him from investigating certain matters concerning CRH he was not, he said, precluded from inquiring into banking activities conducted from Des Traynor's offices at Fitzwilliam Square.[66] Criticism was laid upon those in charge of appointing Moriarty given his shareholding.[67]

In 1999, as evidence on the scale of the Ansbacher accounts grew Tánaiste (Irish Deputy Prime Minister) and PD Minister Mary Harney asked the High Court to appoint inspectors who could identify the account holders.[68]

The High Court Inspectors' report was published in 2002.[69] It found that eight out of fifteen CRH directors held Ansbacher accounts, including four former Chairmen.[70] It also concluded (Chapter 15, p. 189) that "CRH as a corporation cannot be said to have knowingly assisted in the carrying out of Ansbacher’s activities in Ireland".[69]

After the publication of the report CRH acknowledged publicly that its then Chairman had "misused its facilities and personnel" which "represented a grave breach of trust by Mr Traynor".[71]

Sale of Glen Ding Lands

In 1998, Dáil Éireann (Ireland’s Parliament) voted against an investigation into why an asset with the potential to produce a yield of £48 million in terms of sand and gravel reserves was sold to Roadstone, a subsidiary company of CRH, without public tender for £1.25 million in 1991.[72]

Many opposition members of parliament voiced concerns that at the time of sale, Charles J. Haughey was Taoiseach and his financier Des Traynor was Chairman of CRH. Dáil Éireann voted not to investigate whether CRH had donated funds to any political party or politician before or after the purchase of Glen Ding.[73]

The State's Comptroller and Auditor General conducted an investigation into the sale and found that the competing bid fell "far short of" the Roadstone offer and that "The Department acted at all times in the best commercial interests of the State" (Section 9.6). It also noted "even though it is unlikely that the Roadstone offer would have been bettered. The attraction of concluding the sale at what was considered a good price outweighed the imperative to act evenhandedly which is a basic principle when the State is doing business". It was noted by the Department's Accounting Officer that the Roadstone offer "was more than 50% above the only alternative offer received", that another bidder "was afforded every opportunity" to make a better offer and that given subsequent delays and planning issues. "In retrospect the deal had proved to be exceptional".[74]

The Glen Ding transaction was further investigated by the Moriarty Tribunal which in 2006 reported its conclusion "that there was no connection, directly or indirectly, between Mr Charles Haughey and any aspect of this disposal, nor any connection between the operation of the Ansbacher accounts and any aspect of the disposal."[75]

Public criticism

In 2005, opposition TD (Teachta Dála - Irish member of parliament) Phil Hogan, who later became Minister for Environment (2011 - ), stated in Dáil Éireann that "there is a widespread problem with competition in this economy... In the case of CRH, profits have been extracted from the Irish economy by means of a complex industry structure that is both anti-competitive and anti-consumer. The European Court of First Instance and finally the European Court of Justice have upheld findings of serious anti-competitive behaviour against CRH and other. While Sweden, Finland, UK, France and Germany have since levied huge fines against the cement industry, Ireland’s answer has been a stony silence."[76]

In 2011 TD Shane Ross, a repeated critic of CRH as a journalist stated that CRH "disturbs" him and questioned why there had been no investigation of CRH in Ireland considering the adverse findings made against the company elsewhere.[77]

gollark: Only if the chess is 5D and multiversal.
gollark: Inevitability.
gollark: Higher "variance" as the cool kids say.
gollark: Intelligence is actually a useful metric because you can vaguely measure it and it isn't binary like self awareness.
gollark: Great!

References
  1. "Preliminary Results 2019" (PDF). CRH plc. Retrieved 27 February 2020.
  2. "Our group". CRH plc. Retrieved 3 March 2019.
  3. CRH on Top1000.ie Irish Times 2013
  4. "CRH History Overview". crh.com. Retrieved 15 March 2015.
  5. Guthrie, Jonathan (27 August 2015). "CRH options not Manifold in a downturn". Financial Times. Retrieved 13 May 2017.
  6. "CRH plc". Irish Stock Exchange. Retrieved 20 March 2016.
  7. Callanan Industries purchased by Oldcastle, Inc. Archived 15 January 2013 at the Wayback Machine Callanan.com
  8. Duffy, Sean (28 April 2017). "CRH faces push back over €10m for CEO=". The Irish Independent. Ireland. Retrieved 13 May 2017.
  9. CRH buys French builders merchants Archived 31 July 2013 at the Wayback Machine Europolitics 7 October 1998
  10. CRH raises holding in Polish firm to 86.9pc Irish Independent 30 October 1998
  11. International Cement Review. "CRH invests €210m in its Ukraine cement plant". cemnet.com. Retrieved 15 March 2015.
  12. CRH buys Ukrainian cement firm for €96m from rival Irish Independent 27 April 2013
  13. "Scancem sells Finnsementti and Lohja Rudus operations to CRH". News Powered by Cision. Retrieved 15 March 2015.
  14. Irish building materials giant buys Bethesda masonry firm Washington Business Journal | 19 February 1990
  15. CRH buys four US businesses for $66m Archived 17 February 2013 at Archive.today FT - UK Company News 5 August 1994
  16. Allied Products bought by CRH The New York Times 5 July 1996
  17. CRH bolts on Swiss firm in £335m deal Irish Independent 10 November 2000
  18. Dublin's CRH buys Mashav stake The Daily Deal | 9 August 2001
  19. CVC sells Cementbouw to CRH for €976m Dow Jones eFinancial News 30 July 2003
  20. CRH gets windfall of €574m as Portuguese firm buys out stake Irish Independent 26 April 2012
  21. CRH Acquires Major Materials Business in Ohio PR Newsire 24 February 2000
  22. "CRH's Oldcastle Group buys New Jersey quarry firm". RTÉ.ie. 30 April 2001. Retrieved 15 March 2015.
  23. CRH to Acquire APAC in Group's Largest Ever Transaction Archived 3 March 2016 at the Wayback Machine CeramicNews August 2006
  24. CRH spends €11.2m on US Concrete deal Irish Independent, 21 November 2007
  25. CRH buys US-based Pavestone for €348m RTÉ Business, 13 March 2008
  26. CRH buys 26% of Jilin Yatai China Daily, 9 January 2009
  27. CRH builds up China cement presence RTÉ Business, 17 October 2006
  28. CRH agrees to buy 50 pct stake in India's My Home Industries for €290 million Trading Markets, 20 March 2008
  29. CRH confirms continued interest in India GlobalCement, 4 January 2013
  30. Grant, Jeremy (27 August 2015). "CRH adds CR Laurence to acquisitions tally for $1.3bn". Financial Times. Retrieved 13 May 2017.
  31. Brown, Graeme (3 February 2015). "Lafarge Tarmac sold to Irish rival CRH in £5bn deal". Birmingham Post. Retrieved 17 February 2015.
  32. "CRH: the stuff of growth". Financial Times. 17 November 2016. Retrieved 13 May 2017.
  33. Elder, Bryce (6 November 2015). "CRH lifted by US infrastructure bill vote". Financial Times. Retrieved 13 May 2017.
  34. Eley, Jonathan (30 June 2016). "Irish shares are not smiling". Financial Times. Retrieved 13 May 2017.
  35. Thomas, Nathalie (9 November 2016). "CRH shares at 9-year high amid hopes of US spending boost". Financial Times. Retrieved 13 May 2017.
  36. Brennan, Joe (15 April 2017). "CRH to avert pay revolt as chief's package doubles to €10m". Irish Times. Retrieved 13 May 2017.
  37. Mulligan, John (27 April 2017). "'Stabilising' markets give first-quarter boost to CRH". The Independent. Ireland. Retrieved 13 May 2017.
  38. Khan, Mehreen. "CRH gets boost from mild weather". Financial Times. Retrieved 13 May 2017.
  39. Percival, Geoff (25 April 2017). "CRH tipped for another big purchase next year". Irish Examiner. Retrieved 13 May 2017.
  40. Hamilton, Peter (8 May 2017). "BlackRock increases stakes in CRH and Bank of Ireland". Irish Times. Retrieved 8 May 2017.
  41. "CRH to sell European distribution arm to Blackstone". 16 July 2019. Cite journal requires |journal= (help)
  42. "Board of Directors". crh.com. Retrieved 31 January 2017.
  43. "Reuters". reuters.com. Retrieved 31 January 2017.
  44. "CRH Regulatory News". crh.com. Retrieved 31 January 2017.
  45. "What we do". CRH plc. Retrieved 20 March 2016.
  46. "CRH Historical Financial Data". crh.com. Retrieved 15 March 2015.
  47. CRH subsidiary fined €530,000 by Polish authority Cemnbet.com 14 May 2007
  48. Polish regulator fines CRH €26m Irish Examiner 11 December 2009
  49. €25m Polish fine a serious concern to CRH Irish Times via Aggregates Research 7 May 2010
  50. European Commission Press Release 30 November 1994
  51. Concrete Questions Irish Examiner 10 April 2012
  52. "Competition law action dismissed for delay". Stare Decisis Hibernia. Archived from the original on 2 April 2015. Retrieved 15 March 2015.
  53. Judge pulls out of CRH case over shares Irish Times 14 November 2012
  54. "Irish Concrete Cartel Reported on RTE". YouTube. 15 June 2012. Retrieved 15 March 2015.
  55. Appellate Court Concurs On Antitrust Case Ruling Archived 14 December 2010 at the Wayback Machine 10 May 2010
  56. "Cement Price Fixing Investigation Lawsuits". yourlawyer.com. Archived from the original on 17 January 2010. Retrieved 15 March 2015.
  57. Florida Antitrust parties settle prior to appellate court action 7 March 2012
  58. McCarty, James F (4 April 2014). "Jury awards $39 million to family of highway paving inspector killed on I-271 in 2010". cleveland.com. Retrieved 22 December 2017.
  59. $1m bribe paid for CRH, Polish inquiry told Irish Times, 27 June 2005
  60. $1m bribe paid for CRH, Polish inquiry told Irish Times, 27 June 2005
  61. Poland's first lady says CRH gave cash to charity Irish Independent, 28 June 2005
  62. No hard questions asked of Charlie Haughey, then or now 14 December 2006
  63. Concrete Questions Irish Examiner, 10 April 2012
  64. Bank moves to block Harney's Ansbacher inquiry Irish Independent 14 January 1998
  65. Tribunal hears how Ansbacher accounts were run RTÉ, 22 February 2000
  66. Mr Justice Moriarty issues statement on CRH shares 30 June 1999
  67. Dail debates Thursday, 30 September 1999
  68. High Court inspectors appointed to investigate Ansbacher RTÉ News, 22 September 1999
  69. Report of the Inspectors Appointed to Enquire into the Affairs of Ansbacher (Cayman)Limited Archived 14 February 2012 at the Wayback Machine The High Court, 6 June 2002
  70. CRH orders probe over Ansbacher Irish Independent, 2 October 1999
  71. Statement by CRH plc 7 July 2002
  72. Glen Ding ghost haunts CRH Irish Independent, 30 April 2006
  73. Corruption was ‘a Fianna Fáil problem’ 28 March 2012
  74. Sale of State Lands at Glen Ding, Co. Wicklow Comptroller and Auditor General Special Report, 17 December 1998
  75. Moriarty Tribunal, Part One, Chapter 18 p 425-450 Archived 19 May 2011 at the Wayback Machine
  76. Dail debates 15 November 2005
  77. Dail debates 11 September 2011
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.